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X&y started business on 1stapril2015 with …

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X&y started business on 1stapril2015 with a capital of 2lac & 10 lac respectively. They agreed to share profits & losses in the ratio of their capitals. You are required to distribute the profit for the year which was rs42200

Posted by Abhay Bhagat 5 years, 6 months ago

CBSE > Class 12 > Accountancy

1 answers

Saloni Jain 5 years, 6 months ago

The capital contributed by X is ₹200000 And Y is ₹1000000.. Therefore, capital ratio is : 1:5 Profit for the year is ₹ 42200 Share if X =1/6* 42200=7033 Share of Y=5/6*42200=35167

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